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Powered by 21Shares Market Outlook One of the reasons driving bullish momentum towards risk-on assets such as tech stocks and crypto is the potential flow of capital from the bond market as the sector became unsettled by inflation worries. The inverted yield curve - a historically reliable indicator that has been used for spotting a potential recession - is now indicating that short-term interest rates are priced at a higher value than longer-term ones. This is an abnormality, as long-term risks should traditionally be valued at a higher rate due to the increased risk it carries; hence it paints a dim economic picture of the future. Source: TradingView ...
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This week's highlights Markets grinded higher through the week, recovering from the poor start to the year. Energy was in the spotlight again over the expected drop in Russian oil and gas supply which saw prices increase over the week. The US 10-year advanced nearly 35 basis points, the largest increase since September 2019. BetaShares Crude Oil Index ETF - Ccy Hedged (OOO) and BetaShares S&P/ASX 200 Resources Sector ETF (QRE) were the top performing ETFs during the week. Benefitting from supply concerns in the energy and natural resources space. Five of the top ten performers provide exposure in these sectors. Short levered and large cap Chinese equity ETFs were amongst the worst hit during the week given the recent rally in equities where short levered ETFs are negatively related. Concerns over a slow down in growth, the increase in covid cases and continued scrutiny of the US listed Chinese stocks resulted in the large cap Chinese ETF being down 4.4% during the week. VanEck Vectors Australian Property ETF (MVA) saw the biggest weekly flow, capturing $27m of inflow. Whilst BetaShares Australian High Interest Cash ETF (AAA) had the largest outflow of $15m. ...